EIC KazakhExport JSC Issues 5 Billion KZT Ordinary Shares

EIC KazakhExport JSC Issues 5 Billion KZT Ordinary Shares

Management Board of Baiterek MNH has decided to exercise its pre-emptive right to buy 100 ordinary shares in EIC KazakhExport JSC at offering price of 50 million KZT per share for a total amount of 5 billion KZT.

These funds are provided for in Law of the Republic of Kazakhstan dated 2 December 2020 N 379-VІ ЗРК ‘2021-2023 Republican Budget’ to support Kazakhstan’s producers of non-primary goods and service providers on foreign markets and make them more competitive due to provision of efficient financial measures for support of export.

The 5 billion KZT increase in the charter capital of the Company in 2021 will allow ensure a sufficient level of sustainability within undertaken insurance obligations.

Today, charter capital of EIC KazakhExport JSC totals 100.1 billion KZT, its equity capital makes 109.6 billion KZT.

In 2020, EIC KazakhExport JSC supported 115 local enterprises for an amount of 134.6 billion KZT. This year, it is planned to increase insurance support for Kazakhstan’s exports in processing sector up to 200 billion KZT using tools from EIC KazakhExport JSC.

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